TRX

Chief Alec Chingee of the McLeod Lake Indian Band and Robert Pease, President
and CEO of Terrane Metals Corp. ("Terrane" or the "Company") (TSX VENTURE:TRX)
are pleased to announce they have commenced negotiations toward a socio-economic
agreement regarding Terrane's Mt. Milligan Copper-Gold Project ("Project") in
British Columbia, Canada.


The McLeod Lake Indian Band has been actively engaged with the British Columbia
Environmental Assessment Office and the Company since the commencement of the
Project. According to Chief Alec Chingee of McLeod Lake Indian Band, "So far we
have found Terrane to be an extremely responsible corporate citizen, sensitive
to the concerns and needs of aboriginal peoples. This Project offers substantial
economic benefits for a region hard hit by a failing forest industry. Our prime
responsibility is to ensure that sound environmental regulations are in place
and followed so the Project area is protected for future generations. We look
forward to working with Terrane to achieve a successful mining operation on our
traditional territory so that our people and people within the region are able
to secure socio-economic benefits."


President and CEO Rob Pease of Terrane Metals stated: "Last week Terrane
announced the Mt. Milligan Feasibility Study Report which described the scope,
design and economic viability of the Project. Terrane has designed a Project
with a compact site foot print which allows for a responsible and safe
operations and closure plan. Terrane looks forward to a mutually beneficial
working relationship with the McLeod Lake Indian Band and is wholly committed to
ensuring long term environmental stewardship and sustainable growth within the
Project region."


ABOUT TERRANE METALS CORP.

Terrane Metals Corp. is an exploration and mine development company focused on
the development of the Mt. Milligan copper-gold and Berg
copper-molybdenum-silver projects in British Columbia, Canada. Goldcorp Inc.
(TSX:G)(NYSE:GG) owns a 58% equity interest in Terrane on a fully diluted basis.


TERRANE METALS CORP.

Robert Pease, P.Geo, FGAC President and CEO

McLEOD LAKE INDIAN BAND

Alec Chingee, Chief

Cautionary Note Regarding Forward Looking Statements

Except for the statements of historical fact contained herein, the information
presented in this News Release constitutes "forward-looking statements" as such
term is used in applicable Canadian laws. These statements relate to analyses
and other information that are based on forecasts of future results, estimates
of amounts not yet determinable and assumptions of management. In particular,
statements concerning Mineral Resource and Mineral Reserve estimates should be
viewed as forward-looking statements to the extent that they involve estimates
of the mineralization that will be encountered if the property is developed. Any
statements that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future
events or performance (often, but not always, using words or phrases such as
"expects" or "does not expect", "is expected", "anticipates" or "does not
anticipate", "plans, "estimates" or "intends", or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be taken, occur or
be achieved) are not statements of historical fact and should be viewed as
"forward-looking statements". Such forward looking statements, including but not
limited to, those with respect to the price of metals, the amount of estimated
mineralization and of contained metals and the timing of and possible outcome of
pending economic evaluations and other factors and events described in this News
Release, involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. 

Such risks and other factors include, among others, the actual results of
exploration activities; variations in the underlying assumptions associated with
the estimation or realization of Mineral Resources and Mineral Reserves, the
conclusions of economic evaluations and possible variations in ore grade or
recovery rates; costs and timing of the development of new deposits;
availability of capital to fund programs and the resulting dilution caused by
the raising of capital through the sale of shares; accidents, labour disputes
and other risks of the mining industry including without limitation those
associated with the environment, delays in obtaining governmental approvals,
permits or financing or in the completion of development or construction
activities, title disputes or claims limitations on insurance coverage. Although
the Company has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions,
events or results not to be as anticipated, estimated or intended. There can be
no assurance that such statements will prove to be accurate as actual results
and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements contained in this News Release and in any document
referred to in this News Release.


Forward looking statements are made based on management's beliefs, estimates and
opinions on the date the statements are made and the Company undertakes no
obligation to update forward-looking statements if these beliefs, estimates and
opinions or other circumstances should change, except as required by applicable
law.

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